US Dollar Index is progressing within Wave 3 lower towards 94.65 and further. The index had earlier dropped from 103.00 through 98.27, sub dividing in 5 waves, Wave 1 on the chart. Wave 2 had unfolded as a triangle consolidation a-b-c-d-e, and terminated around 100.56 handle. Since then, Wave 3 might be underway lower towards 94.65 and beyond. Within Wave 3, the index seems to have carved lower degree waves 1, ii iii and iv respectively (not labelled here). Wave iv potential termination could be seen around 97.45 or another push may drag higher to 97.80. Thereafter, we can expect a Wave v lower towards 94.65, to complete Wave 3 drop. Overall, US Dollar Index remains bearish against 103.00.
Strategy:
Aggressively bearish against 103.00, targeting below 94.65.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Aggressively bearish against 103.00, targeting below 94.65.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.